Revised plans for a £450m development in the City of London have been approved by the Square Mile’s planning committee after developers reduced the building’s height to address local opposition.
The City of London Corporation greenlit the adjusted proposal for the 1 Silk Street scheme on Thursday, describing it as delivering a “much-needed, high-quality workspace” to the Barbican and surrounding area.
Earlier versions of the scheme, which at nearly 100,000 square feet is poised to be one of the largest new developments in the City, faced robust local opposition from Barbican residents.
Those residents had argued the 21-storey building would have affected their access to daylight and had major knock-on effects for the wider estate.
Developers Lasalle and Lipton Rogers slashed three storeys, or 10 metres, from the height of one of the development’s two blocks, paving the way for planners’ approval of the scheme.
Under the revised plans, the western section will sit three storeys higher than the building it is set to replace, while the eastern section will remain at its original height.
The City of London Corporation’s planning and transportation committee chair, Tom Sleigh, said the reworked proposal was “a stronger one” than earlier efforts.
“The daylight impact on Barbican homes and the way the building meets the street were both reworked along the way,” he said, adding that it would deliver “a much needed, high-quality workspace, with the retention of much of the existing structure rather than demolition.”
The changes mean the scheme will have five per cent less office floorspace than originally intended, representing a notable concession from the development team.
The approval follows a broader push by the Square Mile’s local authority to keep the City competitive with other financial hubs, with One Undershaft approved in December 2024 and the 34-storey 130 Fenchurch Street receiving the go-ahead less than a year later.
Last year marked a new record for planning approvals in the UK’s financial district, with officers and committee members signing off on half a million square metres of newly developed office space.
The approved Silk Street proposal also incorporates a new pedestrian arcade linking Liverpool Street and Moorgate stations with the Barbican Centre, alongside a new cultural space dubbed Silk Street Hall.
More than 13,993 square feet within the development has been allocated for retail and hospitality firms, broadening the scheme’s offering beyond office accommodation.
Sleigh added that the building would “transform the public realm around the Barbican” and create “a more welcoming, inclusive environment with new cultural and community spaces.”